Pinewood Technologies Group (PINE) CMD 2024 summary

Strategic priorities and growth pillars

• Four-pillar strategy targets UK expansion, international scale (Asia Pacific, DACH, South Africa), product and vertical sales, and North American entry via Lithia partnership, with phased pilot and rollout in 2025–2026.

• UK market focus includes winning more top 20 dealer groups by end of 2024/2025, leveraging recent wins like Marshall and Jardine, and aiming to cover all top 100 UK dealer groups.

• Asia Pacific expansion centers on Japan with contracts for Porsche and VW/Audi dealers, while DACH region is targeted for 2026/2027 rollouts.

• North America represents a $9.3bn addressable market, with a JV and pilot with Lithia in 2025, broader rollout in 2026, and building local teams.

• Capital allocation prioritizes reinvestment in product development, market entry, and selective M&A to accelerate growth and shareholder returns.

Product innovation and technology differentiation

• Only pure SaaS, cloud-based automotive ecosystem in Europe, operating in 21 countries on a single code base, serving over 30,000 users.

• System integrates all dealership functions, reducing legacy systems and offering a single customer record across enterprises.

• AI and data stack enable advanced features like chatbots, equity mining, predictive analytics, and exclusive North American rights to Seez chatbot, supported by a $4.2m investment.

• Product suite includes CRM, Service App, F&I Menus, Document Storage, Business Analytics, and digital retailing, with rapid onboarding and short implementation times.

• Product is built by automotive retail experts, tested in real-world environments, and updated multiple times per week for security and scalability.

Financial outlook and guidance

• FY2027 revenue and EBITDA guidance upgraded to £30m, reflecting high double-digit organic growth, recurring revenue, and recent contract wins.

• Growth drivers include price increases, product upsell, and prudent international assumptions, with North America and M&A as incremental upside.

• 85% of revenue is recurring, with high, stable gross margins and a strong balance sheet with no debt.

• Strategic partnerships with 50+ OEM brands support transformation and profitability.

• Upward revision follows early progress as a standalone business since February 2024.